Posted on: February 5, 2019

This is the first development to sell more than 50 percent of the project in six months.

By Summa Magazine

Aria Development Group , an investment and real estate development company based in New York and Miami, together with its partner, AQARAT , one of Kuwait's leading real estate companies, celebrates the start of construction of YOTELPAD Miami . The mixed-use development will be located in downtown Miami. Scheduled to be completed by early 2021, this will be the first YOTEL PAD on the east coast.

After reaching the market in June 2018, OneWorld Properties , the sales and marketing team of YOTEL PAD Miami, led by Peggy Olin, has successfully sold more than 50 percent of its residences in just six months. This record milestone has not yet been reached by another sales team in the US. UU

The attractive short-term rental options of the development, without any restrictions, and its retroactive lease program offer owners flexibility and the opportunity to obtain a return on their investment. By offering units of efficient size, the minimalist product is increasingly popular with buyers seeking affordable prices in the range of $ 300,000 to $ 500,000 USD.

"Our team has sold more than 18 units per month in the last six months," said Peggy Olin, president and CEO of OneWorld Properties. "Our domestic and foreign investors are captivated by the location of the project, the price and the flexible lease options. Miami serves as an important gateway to global markets through connections to the Miami International Airport, the Port of Miami and one of the largest financial districts in the United States. As for end users, residents will have the opportunity to live in the epicenter of a city known for its cultural diversity, hospitality, entertainment and events. "

More than 40% of the buyers of the development are investors from Mexico and China with a substantial amount of investors also coming from Argentina, Colombia and other markets in South America. OneWorld Properties has been dominating the international real estate market for more than 10 years with more than $ 3 billion in residential sales. These transactions represent 80 percent of the sales of US properties. UU

"The start of YOTEL PAD Miami is an important milestone for Downtown Miami," said David Arditi, director of Aria Development Group. "It is the first time that a global brand offers a life of luxury at an affordable price, and that is quite difficult to find in this market. The innovative "PAD" concept is receiving a very positive response locally and globally. We are very excited to open the way and make this project a reality. "

At the end of the project, YOTELPAD Miami will incorporate three butler robots capable of delivering beverages, food, sweets, gifts, documents and more. Raising the standard for residential services, two robots will be available for residents and one will be designated for hotel guests. The robots can be programmed to speak a variety of languages, dialogues and play digital files with music and voice recordings. Other services include: concierge services, bicycle storage, gourmet bar, full service restaurant and bar with outdoor tables and private dining room, fitness center, workspace, lounge, pool deck and spa for pets. In addition, each PAD will come witha private storage unit.

The new concept of YOTEL PAD is framed in the umbrella of YOTEL, the successful brand known for its luxury hotels in Paris, Amsterdam and New York, as well as YOTELAIR. Over the past year, the brand has announced new locations around the world, including Park City, Utah; Portugal; Istanbul; Singapore and Mammoth, California. Its recent expansion consolidates the global success of the brand in its ability to optimize the space through intelligent design and technology in each city they reach.

"As global experts in the residential real estate market, we believe in YOTEL's new" PAD "concept," said Fahad Al-Shamlan, vice president of investments and acquisitions at AQARAT. "Our partnership with Aria Development Group in this project will transcend the limits of luxury in high-end tourist destinations for modern people."

The mixed-use development will feature 231 residential units (PAD) and 222 hotel rooms (cabins), along with carefully cultivated floor plans and integrated designs for an urban-chic lifestyle. Stantec , one of the leading architecture, interior design and engineering firms in North America, is the architect and designer of the project. The development will offer studios, one and two bedroom residences with prices starting in the $ 300,000 range.

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